Main Trading Ideas for Current Trading Session by AMarkets

[Adam]

With AMarkets, traders may consider staying informed about market news and economic indicators, using technical analysis to identify potential entry and exit points, and implementing risk management strategies to protect against unexpected market movements.

[JadeLuna]

I have had a positive experience with the automated trading feature on AMarkets' platform, which has helped me to save time and improve my trading results.

[kimli43]

AMarkets menawarkan pilihan deposit dan pengeluaran yang fleksibel, menjadikan mudah untuk pedagang untuk menguruskan dana mereka.

[kimli43]

AMarkets menyediakan platform dagangan yang boleh diakses melalui web, desktop, dan juga aplikasi mudah alih.

[kimli43]

The European currency is facing a decline and is currently consolidating near 1.08 against the USD. On Friday, the Consumer Price Index of the Eurozone was published, showing a fall to 6.9% against 8.5% in February, but with core inflation rising from 5.6% to 5.7%. This is a key indicator for the European Central Bank, but experts doubt that the bank will post a rate hike cycle in the near future. However, by the end of the year, analysts predict that the regulator will raise the rate three times, with a possible 50 basis points increase following the results of the May meeting. As such, holding a position on the Euro against the USD is recommended.

The AUD/USD pair is holding position near its old point at 0.6670, and investors are waiting for the meeting of the Reserve Bank of Australia, the results of which will be announced tomorrow morning. Most analysts predict that against the backdrop of continued growth in inflation, the regulator's rate may be increased by 0.25% to 3.85%. If expectations are confirmed, the strengthening of the Australian dollar will continue. Additionally, the growth of industrial activity in China provides further support for the Australian currency, as China is Australia's most important trading partner. If the sentiment does not change, the AUD/USD pair is expected to make a new price and continue to strengthen.

The final trading idea for the current session is in regards to oil. The price of oil is currently testing the resistance of $85 per barrel and is updating local highs. The decision by the Apec Plus countries to fill the reducible production by 1.6 million barrels per day since May has supported oil prices. Market participants predict that if plans do not change, then the decline in production against the backdrop of the growth of the Chinese economy may cause a shortage of supply in the global oil market by more than 2 million barrels per day. The decision of the Apec Plus countries was another confirmation that the oil-producing regions are not interested in further price declines and will do much to create conditions for bullish momentum. Therefore, the growth of oil will continue.

These are the main trading ideas for the current trading session. Thank you.